MoneyGram Announces Minority Investment in Coinme, the Largest Licensed Cryptocurrency Cash Exchange in the US By DailyCoin – Investing.com

MoneyGram Announces Minority Investment in Coinme, the Largest Licensed Cryptocurrency Cash Exchange in the US By DailyCoin – Investing.com

MoneyGram Announces Minority Investment in Coinme, the Largest Licensed Cryptocurrency Cash Exchange in the U.S.

MoneyGram International, Inc. (NASDAQ: MGI) today announced that the Company has completed a strategic minority investment in Coinme, a leading cryptocurrency cash exchange in the U.S. This venture, which gives the Company an approximate 4% ownership stake in Coinme, closes out Coinme’s Series A financing round and provides MoneyGram with a direct ownership position in one of the first and fastest growing cryptocurrency companies in the world.

"At MoneyGram, we continue to be bullish on the vast opportunities that exist in the ever-growing world of cryptocurrency and our ability to operate as a compliant bridge to connect digital assets to local fiat currency. Our investment in Coinme further strengthens our partnership and compliments our shared vision to expand access to digital assets and cryptocurrencies,"

said Alex Holmes, MoneyGram Chairman and CEO.

"Our unique cash-to-bitcoin offering with Coinme, announced in May of 2021, opened our business to an entirely new customer segment, and we couldn't be more pleased with our progress. As we accelerate our innovation efforts, partnerships with startups like Coinme will further our position as the industry leader in the utilization of blockchain and similar technologies."

MoneyGram announced its